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Deloitte comment letter on tentative agenda decision on IFRS 9 — Modifications or exchanges of financial liabilities that do not result in derecognition

Published on:
23 May 2017

We have commented on the IFRS Interpretations Committee's publication in the March 2017 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the accounting for a modification or exchange of a financial liability measured at amortised cost.

We recommend that this issue would be better addressed via a formal Interpretation rather than an agenda decision as this would allow for suitable transition provisions to be applied to adjustments arising from modifications that may have occurred some years ago.